The India Acetonitrile market is anticipated to grow at a steady CAGR of 4.81% by FY2030. Balaji Amines Limited has planned brownfield expansion of Acetonitrile plant with a capacity of 15 thousand tonnes which will start from mid FY2024 till end of FY2025.
Acetonitrile is a colourless organic nitrile solvent with a dipole moment of 3.84D, which enables it to dissolve in a wide range of ionic and nonpolar compounds. It is primarily produced as a byproduct of the production process of acrylonitrile. It has a high degree of chemical stability, is a powerful solvent, and is readily soluble in water. As a result, it has numerous uses in a variety of industries, including pharmaceuticals, automotive, agriculture, etc. Other applications like battery, acrylic nail removers, fragrances, extraction of fatty acids from vegetable and animal oils also make use of acetonitrile. Acetonitrile is used to manufacture antibiotics due to its advantageous physical and chemical characteristics, including low viscosity and low freezing/boiling points. Additionally, Acetonitrile is used as a solvent in liquid chromatography, which influences the interaction between sample component and adsorbent during the separation process of chiral systems.
Growing demand for the recrystallization of drugs in the pharmaceutical industry is expected to fuel the growth of Acetonitrile in India. Rising generic pharmaceutical manufacturing activities across the globe and high consumption of agrochemicals are anticipated to attract healthy demand for Acetonitrile. Furthermore, supportive government initiatives and plans including the National Food Security Mission (NFSM) which aim to increase the production of rice, wheat, pulses, and coarse cereals are expected to propel agrochemical demand, which is further projected to escalate the growth of Acetonitrile in India. With rapid technological advancements in High Performance Liquid Chromatography (HPLC), the technique has gained prominence in the analytical industry, which has increased the overall Acetonitrile demand in India. In the petrochemical industry, different acetonitrile grades are frequently employed in extractive distillation and separation of C4-hydrocarbons and olefin-diolefin combinations, which further contributes to the Acetonitrile demand across the nation.
Based on region, the India Acetonitrile Market is segregated into North, South, East, and West. Currently, West India has been dominating the market followed by North and South India. Gujarat and Maharashtra are the key consumers of acetonitrile owing to the presence of numerous pharmaceutical manufacturers like Sun Pharmaceutical Industries Ltd. And Cipla Ltd.
Based on end-use, the India Acetonitrile market is segregated into Solvent, Chemical Intermediate, Pharmaceutical, Photographic Film, and Others. As of FY2023, the Solvent industry is dominating the India Acetonitrile market with a market share of 65% and is expected to retain its dominance even in the forthcoming years. Due to progressive healthcare facilities and drugs, the pharmaceutical industry is anticipated to bolster the India Acetonitrile market in the upcoming years.
Balaji Amines Ltd. is the primary player operating in the production of Acetonitrile in India. Significant companies for Global Acetonitrile market are Ineos AG, Asahi Kasei Corporation, Jilin Petrochemical Company, Shanghai SECCO Petrochemical Company Limited, Nantong Acetic Acid Chemical Co., Ltd, AnQore, Jiangsu Sailboat Petrochemical Co., Ltd, Sinopec Anqing Company, Formosa Plastics Corporation, Shandong Shida Hongyi Chemical Co., Ltd, Zibo Jinma Chemical Factory, and Hebi Saike Chemical Co., Ltd.
Years considered for this report:
Historical Period: FY2015-FY2023
Base Year: FY2023
Estimated Year: FY2024
Forecast Period: FY2025- FY2030
Objective of the Study:
- To assess the demand-supply scenario of Acetonitrile which covers production, demand and supply of Acetonitrile market in India.
- To analyse and forecast the market size of Acetonitrile in India.
- To classify and forecast India Acetonitrile market based on end-use and regional distribution.
- To examine competitive developments such as expansions, green field projects/ brown field expansions, mergers & acquisitions, etc., of Acetonitrile market in India.
To extract data for India Acetonitrile market, primary research surveys were conducted with Acetonitrile manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Acetonitrile market over the coming years.
ChemAnalyst calculated Acetonitrile demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Acetonitrile to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
- Acetonitrile manufacturers and other stakeholders
- Organizations, forums and alliances related to Acetonitrile distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acetonitrile manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, India Acetonitrile market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by End-use: Solvent, Chemical Intermediate, Pharmaceutical, Photographic Film, and Others
- Market, by Sales Channel: Direct Sale and Indirect Sale
- Market, by Region: North India, South India, East India, West India
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.